Few Homes To Be Auctioned By Banks In Hungary

“Banks filed only a small number of applications to sell homes with non-performing mortgages before last week’s deadline, the financial supervisory Pszáf told Napi Gazdaság. The law allowed the auction of homes worth more than Ft 30 million with a mortgage of over Ft 20 million.

OTP bank said only two homes fell into this category, and that it has only 40 non-performing mortgages above Ft 20 million.

UniCredit bank said it will not make use of the auction option, while Budapest Bank said it plans no such auctions before October.

AXA informed the newspaper that it has not started any forced sales in the Ft 30 million category.”

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